Janus Henderson Mortgage-Backed Securities ETF (JMBS) Performance
JMBS total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −1.7% since Dec 31, 2025
- 1 year
- −1.2% total return
- 5 years
- +0.3% a year
- Since first price
- +1.9% a year since 2018
JMBS trailing returns vs AGG, TLT, SPY
| Period | JMBS total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | +0.7% | +0.3% | +0.9% | +1.5% | −1.0% |
| 3 months | −1.3% | −2.6% | −0.4% | −1.0% | +3.2% |
| 6 months | −2.6% | −5.2% | −1.5% | −3.8% | +7.8% |
| YTD | −1.7% | −5.5% | −1.0% | −3.4% | +12.3% |
| 1 year | −1.2% | −6.3% | −1.1% | −6.9% | +14.4% |
| 3 years | +20.1%+6.3%/yr | +2.6% | +16.6%+5.2%/yr | +9.7%+3.1%/yr | +87.4%+23.3%/yr |
| 5 years | +1.6%+0.3%/yr | −18.3% | −0.8%−0.2%/yr | −32.5%−7.6%/yr | +79.3%+12.4%/yr |
| Since inceptionSep 13, 2018 | +16.2%+1.9%/yr | −13.8% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: JMBS vs AGG
From Sep 13, 2018: JMBS grew to $11,615, AGG to $11,489.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
JMBS returns by calendar year
5 of 7 full years positive. Best 2025 (+8.8%), worst 2022 (−11.4%). 2026 is year to date.
JMBS annual returns table
| Year | JMBS | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | −1.7% | −6.0% | −1.0% | −3.4% | +12.3% |
| 2025 | +8.8% | −3.0% | +7.2% | +4.3% | +17.7% |
| 2024 | +1.5% | −4.6% | +1.3% | −8.1% | +24.9% |
| 2023 | +5.7% | −8.9% | +5.7% | +2.8% | +26.2% |
| 2022 | −11.4% | −15.8% | −13.0% | −31.2% | −18.2% |
| 2021 | −0.3% | −1.1% | −1.8% | −4.6% | +28.7% |
| 2020 | +5.4% | −4.3% | +7.5% | +18.2% | +18.3% |
| 2019 | +7.1% | −0.6% | +8.5% | +14.1% | +31.2% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
JMBS largest drawdowns
Now 3.8% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Aug 3, 2021 | −16.7% | Oct 20, 2022 | Sep 5, 2025 | 1.2 years | 4.1 years |
| Feb 27, 2026 | −6.0% | Oct 5, 2026 | not yet | 7 months | 8 months so far |
Declines from a closing high (distributions reinvested) of 5% or more. Underwater = time from the peak until the old high was regained.
JMBS risk statistics
| Statistic | 3 years | 5 years | Since 2018 |
|---|---|---|---|
| Annualized return | +4.6% | −0.2% | +1.7% |
| Volatility (annualized) | 6.9% | 7.4% | 6.0% |
| Sharpe ratio | 0.05 | -0.48 | -0.13 |
| Sortino ratio | 0.08 | -0.62 | -0.17 |
| Best month | +5.6% | +5.6% | +5.6% |
| Worst month | −3.9% | −5.4% | −5.4% |
| Best 12 months | +13.1% | +13.1% | +13.1% |
| Worst 12 months | −2.1% | −14.8% | −14.8% |
| Positive months | 67% | 50% | 59% |
| Beta vs S&P 500 | 0.28 | 0.28 | — |
| Correlation with S&P 500 | 0.50 | 0.60 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
JMBS rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 86 | −14.8% | +3.2% | +13.1% | 71% |
| 3-year (a year) | 62 | −5.2% | −0.1% | +6.3% | 50% |
| 5-year (a year) | 38 | −0.4% | +0.4% | +1.1% | 74% |
Every holding period starting at a month-end since 2018. Returns for 3 years and longer are annualized.
JMBS performance overview
Janus Henderson Mortgage-Backed Securities ETF (JMBS) returned −1.2% over the past year and +0.3% a year over five years, with distributions reinvested. Since its first recorded price in 2018 it has returned +1.9% a year, turning $10,000 into about $11,615. Over the same year U.S. bonds (AGG) returned −1.1%.
The deepest decline was −16.7%, from Aug 3, 2021 to Oct 20, 2022, and it took 2.9 years to get back to the old high. JMBS finished 5 of its 7 full calendar years with a gain; the best year was 2025 (+8.8%) and the worst 2022 (−11.4%). Volatility has been 6.0% a year.
Related: JMBS chart, JMBS dividends, JMBS bond profile. See the JMBS overview for the latest quote and fund facts.
JMBS performance FAQ
What is the JMBS return over the past year?
JMBS returned −1.2% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 6.3%.
What is the average annual return of JMBS?
JMBS has returned +0.3% a year over 5 years, +1.9% a year since September 13, 2018 (total return, distributions reinvested).
How much would $10,000 invested in JMBS be worth?
$10,000 invested in JMBS at its first recorded close on September 13, 2018 would be worth about $11,615 on October 23, 2026 with distributions reinvested.
What was the worst year for JMBS?
The worst calendar year was 2022, with a total return of −11.4%. The best was 2025 at +8.8%.
What is the biggest drawdown of JMBS?
The largest peak-to-trough decline was −16.7% between August 3, 2021 and October 20, 2022. It recovered to the old high on September 5, 2025, 2.9 years after the bottom.
How volatile is JMBS?
Over the past 3 years JMBS had an annualized volatility of 6.9% and a Sharpe ratio of 0.05 (excess return over 1–3 month T-bills per unit of risk).